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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Tariff exemption to India will push Indo-US bilateral trade: Exporters
According to reports, US President Donald Trump has said that automobile tariffs will be coming soon even as he indicated that some countries may get an exemption from reciprocal tariffs to be imposed on April 2.
Federation of Indian Export Organisations (FIEO) said that India certainly deserves an exemption or waiver from reciprocal tariffs as it is constructively engaged with America at different levels and also for a Bilateral Trade Agreement.
«The Mission 500 to take bilateral trade from the current level of about USD 200 billion to USD 500 billion requires a greater push for seamless trade, which the exemption will further facilitate,» FIEO Director General Ajay Sahai said.
Another exporter said that the exemption to India would remove tariff uncertainties and will help further increase exports to the US.
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The US has already imposed high tariffs on China.
However, think tank GTRI said that it is highly unlikely that India will receive an exemption from Trump-era tariffs, especially given Trump's consistent portrayal of India as a «high-tariff» country.
«Any exemption would come at a steep cost. Trump would demand far-reaching concessions from India in sectors far beyond trade. This could include allowing Starlink operations, easing Tesla's market entry, watering down the civil nuclear liability law, scrapping the equalization levy on US tech giants, and more,» Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said.
India has already announced the scrapping of the equalization levy on tech giants like Google.
He suggested that India must stand firm and avoid compromising on matters of strategic and national importance.
«If Trump imposes tariffs, so be it. India is not alone. The
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Can India dodge Trump’s trade tariff bullet? Depends on the sector and trade pact talks livemint.com / 1 year ago
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